The LKR and other Emerging Market Currencies in 2018: What's Happening?
Asian currencies have seen a sell off while the US dollar has strengthened. This has been due to a series of global factors and one such factor being the US-China trade war. However, the main fator has been the rate hikes initiated by the Federal Reserve. Investors have also resorted to sell emerging market stocks due to the position these countries have in the global value chain that is shared with China.